A new study carried out by research firm IHS Markit reveals that the average age of vehicles in circulation in the United States has increased and now sits at 11.8 years, a record level.
In comparison with last year, the increase is minimal, just 0.1%, but it is part of a clear longer-term trend towards vehicles staying in service longer. In 2015, the average age of a vehicle in use was 11.5 years.
Mark Seng of HIS Markit has an explanation for the trend:
"Better technology and overall vehicle quality improvements continue to be key drivers of the rising average vehicle age over time.”